Flipkart's super.money acquires BharatX to strengthen credit offerings

Flipkart Group’s UPI-based payments app, super.money, has acquired Y Combinator-backed checkout financing platform BharatX for an undisclosed amount to enhance its offerings, particularly in Buy Now, Pay Later (BNPL).  

As part of the acquisition, BharatX’s core team will work closely with super.money to expand its credit-on-UPI offerings.  

"We see credit-on-UPI as a game-changer for financial access in India. By leveraging BharatX’s platform, we are developing unique credit-on-UPI products that align with our shared vision of financial inclusion, empowering millions to transact with ease," super.money CEO and founder Prakash Sikaria said.  

Founded in 2019, Bengaluru-based BharatX has partnered with over 200 brands for checkout financing through four banking partners, according to the company’s website. The company had raised $4.74 million across two funding rounds from investors such as Y Combinator, Multiply Ventures, Soma Capital, Java Capital, and 8i Ventures.  

“Over the last four years, starting out in college, we were able to provide credit to hundreds of thousands of consumers in India profitably, without any documentation or credit score needed. Via this acquisition, we will take our product to newer heights using the wider distribution with super.money,” BharatX founder Mehul Jindal said.